VANCOUVER, BC, Dec. 23, 2020 /CNW/ - Kainantu Resources
Ltd. (TSXV: KRL) ("KRL" or the "Company"), the Asia-Pacific focused gold exploration company,
is pleased to acknowledge the support and recognition of the
Papua New Guinea ("PNG") Minister
of Mining, the Hon. Johnson
Tuke.
Minister's Endorsement
In his press release dated December 18,
2020, the Minister noted the proactive approach KRL has
taken in working with the people of PNG in developing a new mining
venture in the world renowned Kainantu region.
Amongst other aspects, the Minister noted:
"I am also encouraged by the community stakeholder support in
Kainantu for KRL as seen at recent Warden's hearings in the
district. It gives me great pride as the local member to see
the community working with KRL to support their efforts, which will
generate further investment in the Kainantu region over
time."
Matthew Salthouse, CEO of KRL,
commented:
"KRL is pleased to receive the support of the Mining
Minister, the Hon. Johnson Tuke, and
the Mineral Resource Authority for our team's work in listing our
highly prospective gold exploration project on the TSX-V. We
continue to collaborate closely with our PNG stakeholders,
especially in the Kainantu region.
Building enduring community support will remain a key focus
for KRL management as we advance our exploration programme and
broader regional strategy."
Stock Options
The Company also announces the grant of 4,105,000 stock options
that are exercisable for a period of five years at a price of
C$0.21 per share to various officers,
directors, and consultants. The options will be subject to vesting
over two years. The granting of stock options is part of KRL's
strategy to attract and retain talent, as well as motivating its
team to work towards ensuring the success and value creation at
KRL.
About KRL
KRL is an Asia-Pacific focused
gold mining company with two highly prospective gold tenement
packages, KRL South and KRL North, in a premier mining region, the
high-grade Kainantu gold district of PNG. KRL has a highly
experienced board and management team with a proven track record of
working together in the region; and an established in-country
partner.
For further information please visit
https://kainanturesources.com/
Neither the TSX-V nor its Regulation Services Provider (as
that term is defined in the policies of the TSX-V) accepts
responsibility for the adequacy or accuracy of this
release.
Disclaimer and Forward-Looking Information
Statements contained in this release that are not historical
facts are forward-looking statements that involve various risks and
uncertainty affecting the business of KRL. In making the
forward-looking statements, KRL has applied certain assumptions
that are based on information available, including KRL's strategic
plan for the near and mid-term. There can be no assurance that such
information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking information. KRL does not undertake to update any
forward-looking information, except in accordance with applicable
securities laws.
SOURCE Kainantu Resources Ltd.